Commentary: We advocated a cautious bullish stance yesterday and Kiwi has launched higher to fresh 25 year highs.
Looking at the rally from .7237, it is possible that Kiwi is just now entering a third of a third wave that could see the pair test .7848-.8093 in the next couple of weeks (this is the 100%-161.8% of .7237-.7637/.7452). The alternate count is that an ending diagonal from .7237 is close to complete and that a decline will begin soon. Remaining above .7571 keeps the former count favored.
Strategy: Bullish now (breakout), against .7571, target TBD (above .8000)